Binance will become one of the validators on the SEI network, which should increase the project’s visibility. The crypto exchange itself will benefit from Sei’s potential growth.
Ecosystem Binance already acts as a validator Solana, offering its clients passive income from staking.
SEI is a growing network with approximately $260 million in funds locked and $113 million in liquid stablecoins. Applications on SEI generate approximately $55,000 in daily fees. The network is also seeking to expand its reach to more Web3 applications and liquidity DeFiSEI validators ensure network security and fast settlements, making them potentially suitable for institutional financing. The network has 39 validators, with up to 50 validators able to propose blocks.
SEI was launched as a new layer-one network for high-frequency applications. The project has already attracted tokenized funds from BlackRock, Brevan Howard, Hamilton Lane, and Apollo. The network’s applications and assets are also integrated into the infrastructure of major crypto partners, such as Circle. Dappradar, Securitize, KAIO and Ondo. Binance will participate as a validator in the upcoming Giga upgrade, which will increase the network’s throughput to 200,000 transactions per second.
Native token SEI is trading at around $0,16, close to its all-time low.